Five years of development at the former Case-IH site in East Moline will generate 2,000 jobs and cost about about $150 million, according to its developer.
A revitalized version of the proposed development was shared Wednesday by River Eagle group, composed of Mike VanDeHeede, Matt Stern, Dan Murphy and state Sen. Mike Jacobs, D-East Moline.
In 2010, the group announced it had bought 132 acres of the site for about $1.5 million with the intention of developing it into a mixed business and residential district initially named Port of Call Quad Cities.
It since has received a new name -- Fountainhead of the Quad Cities -- and a new design, including 250 rooms in the Hyatt Place and Hyatt House hotels, a park of more than three acre with a band stand and a sports center, said J. Paul Beitler, president of Beitler Real Estate Services LLC, River Eagle's developer.
“This will be the largest single multi-use development in Illinois,” Mr. Beitler said during a news conference Wednesday at East Moline's City Hall.
The project is expected to start this summer with infrastructure work and the park. The first buildings to be erected will be the hotel complex and 300 apartments, he said.
Mr. Beitler said they hope to have the hotel open within 18 to 20 months. The hotel complex will be equally divided between overnight and extended-stay accommodations, he said.
Then will come the development's retail sections, which will include a gas station, a pharmacy and a bank.
In total, the work could take three to five years, he said. The projected 2,000 jobs include both construction and permanent jobs.
Helmut Jahn, the architect for the hotel, said he wants it to be more than just a place to stay. He wants it to be a public place.
“It relates to the river,” he said. “It becomes a special place.” Visitors will be able to watch bald eagles or participate in events, he said.
The proposal includes a sports center with basketball and soccer courts, condominiums, housing for senior citizens and a self-storage facility, according to information presented at the news conference.
East Moline Mayor John Thodos said he liked the updated plan.
“It's much better than earlier concepts I've seen for the ground,” he said.
Also on Wednesday, the city held a public hearing on a tax increment financing district for the project.
In late 2011, the city council created a TIF district for the River Eagle project. Late last year, however, city officials and Mr. VanDeHeede of River Eagle said the tax assessment never was adjusted to reflect the $1.5 million paid for the property and, instead, cited an older, much higher valuation of about $6 million, meaning River Eagle was paying too much tax.
To rectify the situation, River Eagle must have Rock Island County change the assessment, and the TIF district must be dissolved and recreated. Creating a new district is the only way to adjust the TIF under state law, Mayor Thodos said at the time.
The new TIF district will reflect the adjusted tax assessment and will be known by the project's original name, "Port of Call," city administrator Cole O'Donnell said Wednesday night.
A handful or people were present at the hearing, but no questions were asked. Afterward, Janet Neff of the East Moline school board said she thought the plan would be good for the city.
"I think East Moline needs more development," she said.
Marcos Alvarez, an East Moline resident, said he was concerned about the effect the project might have on a nearby mobile home park. Officials told him there would be none.
Today is Thursday, July 31, the 212th day of 2014. There are 153 days left in the year.
1864 -- 150 years ago: A corps of surgeons now occupies the new hospital quarters at the Garrison Hospital on the Rock Island Arsenal. A fence has been installed to enclose the prison hospital. 1889 -- 125 years ago: B. Winter has let a contract to Christ Schreiner for a two story brick building with a double store front on the south side of 3rd Avenue just west of 17th Street. The estimated cost was $4,500. 1914 -- 100 years ago: Germany sent simultaneous ultimatums to Russia and France, demanding that Russia suspend mobilization within 12 hours and demanding that France inform Germany within 18 hours. In the case of war between Germany and Russia, France would remain neutral. 1939 -- 75 years ago: Civil service offices at the post office and the Rock Island Arsenal were swamped as more than 700 youths sought 15 machinist apprenticeships at the Arsenal. 1964 -- 50 years ago: Last night, American Legion Post 246 in Moline figuratively handed over the trousers to a female ex-Marine and petticoat rule began. Olga Swanson, of Moline, was installed as the first woman commander of the post . 1989 -- 25 years ago: The Illinois Quad City Civic Center captured the excitement and interest of a convention of auditorium managers this weekend in Reno, Nev. Bill Adams, civic center authority chairman, said the 10,000-seat arena planned for downtown Moline has caught the eye of construction firms, suppliers, management teams and concession groups.